Luxury real estate does not know the crisis

While the yellow vests movement shows a deep social malaise, the figures of high-end real estate show that the luxury sector, it does not know the crisis. "The French luxury market has outperformed in 2018 compared to traditional real estate, fully playing its role of safe haven", summarizes Laurent Demeure, the president of the real estate group Coldwell Banker France & Monaco. A new record year. The volume of sales made in France in 2018 jumped 34.5% to 754 million euros (million euros). The average property offered for sale at Coldwell Banker is € 1.28 million, an increase of 8.9% compared to the previous year. Some of the French who had settled in the United States, Belgium or Switzerland after the election of Francois Hollande return, either to acquire a "pied à terre" in the Hexagon (worth 2 to 4 million), ie to invest large sums (between 5 and 30 million) with a sought rate of return of 4.5%. A few very wealthy Chinese people also arrive on this market. Sales of goods over € 3m have gone up again. Examples: a mansion in the 16th auctioned 7.7 M €; a 380 sqm apartment for € 6.85 million; or an apartment of 400 m² in a prestigious ski resort in the Northern Alps sold more than € 10 million. Transactions related to Brexit. Contrary to initial expectations that there would be rapid transfers of management teams from London to other capitals, the flow of arrivals to Paris has been steady but moderate. The families who bought in Paris mainly set their sights on large apartments in the 16th and on the left bank, between 1.8 and 4 million euros. "This flow should intensify in 2019", say the authors of the study.Paris in great …

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